The rumour about the Interpol Red Notice being issued for Changpeng Zhao, the CEO of Binance, has instantly affected the exchange’s native coin, BNB
The crypto currency market has been buzzing with a recent rumour from an unknown source contending that Changpeng Zhao (CZ), the Chief Executive Officer of the world’s biggest crypto currency exchange, has supposedly got a Red Notice from Interpol.
The rumour about the Interpol Red Notice being issued for Changpeng Zhao, the Chief Executive Officer of Binance, has instantly affected the exchange’s native coin, BNB. It rapidly saw a 3.11 per cent decline in price and is currently trading at $303.62.
The speculation extended after Crypto Cobie, a Twitter user, posted an encrypted message. The “Interpol Red Warning for CZ” message was encrypted in a series of characters and numbers using the SHA-256 hash algorithm, the same encryption used to protect bitcoin and other crypto currencies.
In spite of the charges against him, Changpeng Zhao has taken to his Twitter account to reject the claims, stating that they are completely false. He even shared a snap of the supposed Red Notice, contending that the photo was photoshopped.
This claim has put many crypto currency traders and investors on edge as they fear the future of Binance, CZ, and the overall crypto currency industry. Moreover, the crypto currency market’s unpredictability and volatility have been aggravated by the ongoing charge against Changpeng Zhao. Crypto currencies are seen by many as good investment opportunities, but they may be risky because of an absence of regulation and the probability of legal contentions.
As per a previous report by TheNewsCrypto, Changpeng Zhao has been accused by two law companies, namely Moscowitz Law Firm and Boies Schiller Flexner, of engaging in deceitful activities within the crypto currency market. The allegations against Changpeng Zhao include issuing unregistered securities and using self-proclaimed “finance gurus” on social networks to promote the exchange for personal financial benefits.
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